If it seems like your salary isn’t keeping up with the rising cost of living, you’re not alone. According to an analysis from Bankrate, prices have risen 20 percent since the beginning of the post-pandemic inflation surge, compared with a 17.4 percent increase in wages over the same period.

If you’ve only earned nominal merit raises over the last few years, you’ve actually lost ground. For instance, if your salary is only 10 percent higher than it was in 2021, you are earning about 10 percent less in real wages.

Requesting an inflation-based raise or cost of living adjustment (COLA) can help to align your pay with changes to the standard of living and purchasing power. Would you like to give it a try? Here are some of the most effective strategies for requesting a raise due to rising expenses.

Negotiate COLA Separately

Your best bet is to separate your request for an inflation adjustment from discussions about performance-based raises or bonuses, advised Michael Solomon, co-founder of 10x Management and a salary negotiation expert for developers and technology pros.

“To me, the discussion about inflation is less controversial and pretty straightforward, so try not to tie it together with discussions about pay for performance,” Solomon said.

COLAs are increases in compensation that help employees maintain the value of their compensation against inflation. They help employee purchasing power remain stable and reflect the work being performed. They are not merit increases resulting from good job performance.

The good news is that more companies have decided to separate performance reviews from pay discussions, opening the door to a focused discussion about aligning your salary to keep up with inflation.

If you are forced to negotiate your entire raise package in one sitting, try to lead with performance, then make the case for an inflation adjustment, Solomon advised. Tackling each issue and its unique justification separately can help you negotiate a bigger overall increase.

Present Evidence

If you feel like you’re losing ground, you’ll need to prove it, noted Kate Dixon, principal and founder of Dixon Consulting, a leadership development and total rewards consultancy.

For instance, investigate the cumulative inflation rate for your area over the last year or during your tenure, since some areas are experiencing higher inflation than others.

Then, use a calculator to determine the gap or how much your salary needs to increase just to stay even with inflation; cite this data to support your request. Be sure to deduct any merit or promotional increases you have received to see how much your base salary may have eroded.

It’s always a good idea to see what professionals in your area who perform similar work are earning so you know if you are being underpaid relative to the market, says Robin Ryan, career counselor and author of numerous books including “60 Seconds & You’re Hired!”

If your duties and responsibilities have increased, that could also support your justification for why you deserve an increase. “Asking for more money when you asked to take on more work is a reasonable request,” Ryan said.

If your boss is unable or unwilling to entertain the idea of a one-off inflation adjustment, you may be able to score a higher-level title or jump to a higher salary grade due to your growing responsibilities and workload. Or default back to a discussion about the value you bring to the organization, which is often well-received and effective, Dixon said.

The subtle implication behind bringing up the market rate for your position is that the company will have to pay more to hire a replacement if you leave. However, you don’t want to threaten to quit or imply that you’ve been looking unless you’re ready to head for the exit.

If your company has been forced to raise prices for goods and services, that can serve as another example of how the cost of living is impacting the business and its employees. However, if the company is struggling financially or laying off staff, it’s better not to discuss salary until the situation improves.

Offset Expenses

Asking your boss to pick up the tab for certain expenses can be just as good or even better than a COLA. After all, when it comes to combating the rising cost of inflation, reducing expenses can be just as effective—and many reimbursements shouldn't count as taxable income. Also, because managers generally have more control over discretionary rewards, they may be easier to get.

For instance, asking your employer to pay for a professional- or expert-level certification course or exam can save you hundreds if not thousands of dollars. Try asking for a higher remote work stipend or car allowance, public transportation subsidy, meal vouchers, commuter benefits or housing assistance.

If all else fails, the key thing to ask is: “When can I expect a salary increase?”

Asking about the timeline for your organization's salary review process and how they are adjusting salaries to account for inflation is a fair and reasonable request.